Gold (XAU/USD) struggles to capitalize on a modest recovery from its lowest level since March 30, around the $4,480 region set during the Asian session on Monday, amid a bearish fundamental backdrop. The US Dollar (USD) buying remains unabated in the wake of persistent geopolitical uncertainties. Furthermore, rising Crude Oil prices fuel inflationary concerns and bolster bets for a more hawkish US Federal Reserve (Fed), which lends additional support to the USD and contributes to keeping a lid on the non-yielding bullion.

In the latest developments surrounding the Middle East crisis, a drone strike caused a fire at the Ba